SPARTANBURG, S.C., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Denny’s Corporation (NASDAQ: DENN), franchisor and operator of one of America's largest franchised full-service restaurant chains, today reported selected preliminary and unaudited results for its fourth quarter and fiscal year ended December 30, 2020.
John Miller, Chief Executive Officer, stated, “I continue to be impressed with how resilient and steadfast our teams are in their commitment to serving our guests. Denny’s operators have maintained a dedicated focus on health and safety protocols while embracing innovative solutions such as curbside ordering, outdoor dining where permitted, and testing two new virtual brands in an environment challenged by mandated restrictions. With increasing distribution of vaccines, newly passed fiscal stimulus that should benefit our franchisees, and the ongoing resolve of our operators, I am confident that Denny’s is well-positioned to continue navigating through the pandemic in an effective manner while preparing for future growth.”
2020 Preliminary Results
Domestic System-Wide Same-Store Sales** for 2020 Fiscal Periods:
| Fiscal Year 2020: (31%)1 | |||||||||||
| Q1: (6%) | Q2: (57%) | Q3: (34%) | Q4: (33%)1 | ||||||||
| Q2 | Q3 | Q4 | |||||||||
| Preliminary Results | |||||||||||
| (Unaudited) | |||||||||||
| Quarter Ended | Fiscal Year Ended | ||||||||||
| 12/30/20 | 12/25/19 | 12/30/20 | 12/25/19 | ||||||||
| Franchised | |||||||||||
| Company | & Licensed | Total | |||||||||
| Franchised | |||||||||||
| Company | & Licensed | Total | |||||||||
*The Company is not able to reconcile the forward-looking non-GAAP estimates set forth above to their most directly comparable GAAP estimates without unreasonable efforts because it is unable to predict, forecast or determine the probable significance of the items impacting these estimates, including gains, losses and other charges, with a reasonable degree of accuracy. Accordingly, the most directly comparable forward-looking GAAP estimates are not provided.
**Same-store sales include sales at company restaurants and non-consolidated franchised and licensed restaurants that were open the same period in the prior year. Total operating revenue is limited to company restaurant sales and royalties, advertising revenue, fees and occupancy revenue from non-consolidated franchised and licensed restaurants. Accordingly, domestic franchise same-store sales and domestic system-wide same-store sales should be considered as a supplement to, not a substitute for, the Company's results as reported under GAAP.
Upcoming Investor Conference Presentation
Denny's will be participating virtually in the 23rd Annual ICR Conference. Denny’s presentation will take place on Monday, January 11, 2021, at 1:30 p.m. Eastern Time. Investors and interested parties may listen to a live audio webcast of the presentation, which will be available online in the Investor Relations section of Denny's website at investor.dennys.com with a replay of the webcast available following the live event. Investors and interested parties may access a copy of the presentation in the Events and Presentations section of Denny's website at investor.dennys.com.
About Denny’s Corporation
Denny's Corporation is the franchisor and operator of one of America's largest franchised full-service restaurant chains, based on the number of restaurants. As of December 30, 2020, Denny’s had 1,650 franchised, licensed, and company restaurants around the world including 146 restaurants in Canada, Puerto Rico, Mexico, the Philippines, New Zealand, Honduras, the United Arab Emirates, Costa Rica, Guam, Guatemala, El Salvador, Indonesia, and the United Kingdom. For further information on Denny's, including news releases, links to SEC filings, and other financial information, please visit the Denny's investor relations website at investor.dennys.com.
